Binance Expands Margin Trading Offering With NEO and Monero
Binance, the global cryptoasset exchange headquartered in Malta, announced on Thursday its margin trading offering has added NEO and monero (XMR) to its list of tradeable assets.
The exchange also added NEO and XMR as new borrowable assets through its Binance Lending feature, and paired both up against bitcoin and tether to create four new margin pairs: NEO/BTC, NEO/USDT, XMR/BTC and XMR/USDT.
The two new additions now takes Binance’s total marginable assets to 17, adding to the likes of bitcoin, ether, XRP and BNB, the exchange’s native coin.
Monero and NEO
Monero was created in 2014 to be a private, open-source cryptocurrency offering near total anonymity, and has come under some criticism as being the coin some prefer to use for crime. Indeed, it was the currency chosen by the kidnappers of Anne-Elisabeth Hagen, the wife of a wealthy Norwegian businessman, in a $10 million ransom demand in January.
NEO’s blockchain was founded – originally as Antshares – in 2014, and is to be reconfigured again next year. The NEO tokens currently in supply will be replaced by new digital coins. NEO is currently ranked number 21 by market capitalisation, while XMR – once a top 10 contender – has fallen down to position 30.